Ritholtz Wealth Management Has $3.92 Million Stock Position in Amgen Inc. $AMGN

Key Points

• Ritholtz Wealth Management increased its stake in Amgen Inc. by 7.3% in the second quarter, bringing its total holdings to $3.92 million worth of shares.
• Amgen's recent quarterly earnings surpassed analysts' expectations, reporting $6.02 EPS against a consensus estimate of $5.28, along with a revenue of $9.18 billion.
• The company announced a quarterly dividend of $2.38 per share, equating to an annual yield of 3.2% with a payout ratio of 77.84%.

Ritholtz Wealth Management grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,047 shares of the medical research company's stock after buying an additional 957 shares during the period. Ritholtz Wealth Management's holdings in Amgen were worth $3,922,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMGN. Wealth Preservation Advisors LLC acquired a new stake in Amgen during the 1st quarter valued at $25,000. First Pacific Financial lifted its stake in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after buying an additional 85 shares during the last quarter. Activest Wealth Management lifted its stake in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after buying an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its stake in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock worth $38,000 after buying an additional 122 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $297.32 on Thursday. The stock has a market capitalization of $160.07 billion, a PE ratio of 24.31, a P/E/G ratio of 2.60 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The business has a fifty day moving average price of $286.71 and a two-hundred day moving average price of $287.44. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is currently 77.84%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMGN shares. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Citigroup lifted their price target on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Weiss Ratings raised Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Morgan Stanley lifted their target price on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Bank of America lifted their target price on Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday, September 26th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $309.42.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

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